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18. Information on Broken Co.'s inventories is as follows: 20x2 20x1 450,000 440,000 Inventory, December 31 at cost Inventory, December 31 at NRV 490,000 410,000

18. Information on Broken Co.'s inventories is as follows: 20x2 20x1 450,000 440,000 Inventory, December 31 at cost Inventory, December 31 at NRV 490,000 410,000

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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18. Information on Broken Co.'s inventories is as follows: 20x2 20x1 450,000 440,000 Inventory, December 31 at cost Inventory, December 31 at NRV 490,000 410,000 What amount of inventory write-up (or reversal of inventory write-down) is recognized in 20x2? a. 40,000 b. 30,000 c. 20,000 d. 0
Transcribed Image Text:18. Information on Broken Co.'s inventories is as follows: 20x2 20x1 450,000 440,000 Inventory, December 31 at cost Inventory, December 31 at NRV 490,000 410,000 What amount of inventory write-up (or reversal of inventory write-down) is recognized in 20x2? a. 40,000 b. 30,000 c. 20,000 d. 0
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